Business

Saturday 27 May 2017

Rovio sells its animation unit to startup

Angry Birds, the popular iPhone and iPad app. Photo: Rovio
Angry Birds, the popular iPhone and iPad app. Photo: Rovio

Kati Pohjanpalo

Rovio Entertainment Oy, maker of the Angry Birds mobile games and movie, sold parts of its business to Kaiken Entertainment, a startup led by former chief executive officer Mikael Hed and other company veterans.

Kaiken purchased Rovio's TV animation studio in Vancouver, the company's book publishing business and certain non-Angry Birds properties. Financial terms are unknown.

The sale was part of a reorganization at Rovio, which was planning to cut almost 10pc of its payroll, up to 35 jobs, as part of a restructuring aimed at reviving growth.

The company has struggled to come up with new material to match the success of its best-known game title.

Based in Espoo, Finland, Rovio will keep its movie-making studio, which is making the planned Angry Birds film sequel. (Bloomberg)

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